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Amt exclusion items Form: What You Should Know
Other Exemption Items that are Deductible for AMT in 2018: Part III, Alternative Minimum Tax Exclusion Items: Additional exclusions for foreign earned income (line 24), foreign housing interest (line 26), and qualified dividends (lines 29, 40, 45) In Part IV of this Form 2023, the alternative minimum tax is due to be applied to all taxable years beginning after December 31, 2025. Sep 2022 — The Tax Free Investment Income Exclusion and the Alternative Minimum Tax Exclusion for real property (line 36) and qualified dividends (line 47) and other nonbusiness income (lines 52, 54, 56) Note: The Alternative Minimum Tax exclusion items and the Alternative Minimum Tax for real property can be filed separately from the Form 8965. See Table I. Table I — Alternative Minimum Tax Exclusion Items and Alternative Minimum Tax for Real Property (2018) A. Incomplete (itemizing, electing, reporting, estimated) item. I. Itemized deduction that is a part of the above line, for the taxable year covered by the Form 5115, Part II. Itemized deductions in excess of the AMT in any of the two preceding fiscal years. II. Foreign housing interest (if the taxpayer is foreign domiciled). Foreign housing interest (including interest on housing constructed, contracted or leased to residents of the United States or its territories, or to others subject to tax by reason of their status as U.S. residents) that is not deductible for income tax purposes is a foreign housing interest, unless the taxpayer enters into the agreement after December 31, 2018, and the agreement provides that the taxpayer: (a) enters into the agreement on or after January 1, 2019; and (b) reports the interest on the return for that preceding taxable year. It is the taxpayer's responsibility to determine which year a transaction occurred. See Rev. Pro. 90-27, 1990-1 C.B. 569. III. Nonqualified dividends (itemizing, increasing or decreasing) and nonqualified interest expense. Nonqualified dividends (which include interest received on qualified preferred stock, including as interest and dividends from U.S. government obligations, but not including dividends on real or personal property), and nonqualified interest expense are separately reported by the taxpayer for each of the previous three tax years. IV.
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